5 bedroom Villa for sale with sea view with Income Potential in Lagos, Algarve

995,000 EUR 855,700 GBP 1,074,600 USD

Reference: 243461

Bedrooms: 5
Bathrooms: 3
Floor Size: 200 m2
Plot Size: 794 m2

Features

Balcony
Private Pool
Golf Resort or Nearby
Air Conditioning
Fireplace
Possible Extra Dwellings
Sea View
Parking

Details

Bright and spacious 3 storey, 5 bedroom luxury villa with separate apartment set in glorious mature gardens with pool, while enjoying panoramic sea and mountain views from its ideal location near the beach, golf course and all amenities in Lagos.

On entering there is a hall that has convenient storage cupboards and a guest WC and an ornate stone and iron staircase giving access to the upper and lower levels.

The main daytime living area consists of a fully equipped kitchen with Siemens appliances as well as a pantry with additional fridge and freezer, a dining area and a cosy living room with closed log fire. There are double aspect doors for south and west facing external covered sitting areas with exceptional views and enclosed with a full set of discreet fitted insect screens. Alongside is a bedroom with en-suite bathroom that is currently being used as an office with a view.

There are two good sized bedrooms on the upper level, both have quality fitted wardrobes and they share a large bathroom with his and hers sinks, a bath and a separate shower.

Both have access to a large terrace with elevated views of the surroundings and across the beautifully landscaped garden and generous sized swimming pool. The pool is heated by solar panels with a back up heat pump allowing you to swim 365 days a year, a cover ensures limited heat loss overnight. On the landing a small sitting area has been created as a quiet spot to read or to just enjoy the views towards the Monchique hills.

The lower level has direct access to the pool terrace and has been set up as a self-contained apartment with full kitchen, large living and dining area, two bedrooms with fitted wardrobes and a great games room with bar. There is a family bathroom with shower and a technical room that houses the solar equipment whilst also serving as a utility room with washing machine and dryer. Completing the lower-level accommodation there is a workshop and storage room.

A lot of effort has gone into the garden that surrounds the property with railway sleepers as benches and an eye-catching slate water feature that adorns the boundary wall. There is plenty of space for sun loungers around the pool and a quaint shaded sitting area with table and chairs and barbecue.

The property also benefits from the following features :

Double glazing throughout
Under floor heating
Roller and electric window blinds
Anti-humidity system
Central vacuum

This is a well -maintained property that offers lots of accommodation on an easily managed plot located near to nature but far from the madding crowd in a small exclusive neighbourhood.

Show Map

Portugal Property Buying Guide

1. Signing a Letter of Intent

On finding a property you wish to purchase, your agent will draw up a 'Letter of Intent, this will be signed by both parties, vendor and buyer. Copies of this will be given to the legal representatives of both parties and will be used in preparing the Promissory Contract. Included in this letter will be the price, what is included in the sale, furnishings etc. and any conditions of the sale plus the dates for both exchange and completion.

2. Exchange of Promissary Contract (Contrato Promessa de Compra e Venda)

The buyers lawyers are responsible for drawing up the promissory contract (Contrato Promessa de Compra e Venda) and as part of the process they will have carried out the legal searches and made sure that there are no charges, e.g. utilities, property tax etc. against the property. The contract will contain details of both parties and include clear title of ownership, when payments are due to be made, the completion date and an inventory, if required. The Promissory Contract is legally binding and will generally be signed by both parties and witnessed by a notary/lawyer. The contract will include penalty clauses in case either party does not fulfill the terms of the contract. A 10%, non-refundable deposit is required at this point, this will be paid to the vendor, through the lawyer's client account. Once the contract has been signed, if the vendor pulls out of the contract, they will be obliged to pay back double the deposit to the purchaser. If the purchaser pulls out, they will lose their deposit.

3. On Completion

The amount of time between signing the Promissary Contract and Completion will vary and will have been agreed in the contract. Before Completion your lawyer will need to arrange with a fiscal representative for you to obtain a Portuguese Fiscal Number. The official Deed of Transfer of ownership (the Escritura) will be signed by you (or someone representing you with your Power of Attorney), this is signed at the Notary and they will retain the document. The Deed will be read aloud by the Notary before all participants sign it. Your lawyer will need to check to ensure that you understand what is being said if you do not understand Portugese. The Escritura, once it has been signed, will officially give you ownership of the property, but will still need to be registered in your name on the Land Registry (Registo Predial) by your lawyer. Your lawyer should obtain a copy of this for your records. Once you have completed, the new utility contracts can be transferred into your name by your lawyer.